Broadcom nears deal to buy CA Technologies for about $18 billion

Broadcom Reports Quarterly Earnings

The chipmaking giant Broadcom, which was recently blocked from a mega-merger with competitor Qualcomm by Donald Trump over national security concerns, is buying software giant CA Technologies in a fresh bid to enter the USA market.

If the deal clears every hurdle and goes through, the $108 billion semiconductor company will pay $44.50 a share for CA in a deal that could go public on Wednesday, the companies say. Based on CA's closing price of $37.21 Wednesday, the offer represents a 20 percent premium for CA shareholders.

Under Chief Executive Officer Hock Tan, Broadcom has transformed itself through a string of acquisitions into one of the world's largest chipmakers.

The CA deal comes just four months after Broadcom's bid to buy Qualcomm for a whopping US$121 billion was shut down by United States president Donald Trump who citing national security concerns. With a deal for CA, Broadcom is seeking to move into software used to manage business planning and other processes.

Shares of New York-based CA jumped 15 percent in extended trading on reports of the potential deal.

In November, Broadcom completed its acquisition of Brocade Communications for US$5.9 billion to boost Broadcom's position in enterprise storage and networking.

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